TL;DR
- FTX and Alameda have redeemed 192,000 SOL, valued at nearly $45 million, continuing their steady liquidation of Solana assets.
- Despite these sales, over 4.18 million SOL—worth close to $1 billion—remains staked, signaling long-term value in Solana’s ecosystem.
- At the same time, Solana’s price momentum has remained positive, climbing over 14% in the last week, showing strong market confidence.
FTX and Alameda Research have once again moved forward with their asset recovery strategy, redeeming about 192,000 Solana tokens from staking positions. Valued at $44.9 million, the transaction follows a consistent pattern of monthly redemptions that have taken place since late 2023. On-chain analytics firms confirm that the estate has already liquidated nearly $1.2 billion worth of SOL, with an average sale price of $134 per token.
Billions Already Redeemed While Price Remains Resilient
The bankrupt estate still holds around 4.18 million SOL staked, currently worth close to $977 million. Much of this supply is subject to a four-year vesting schedule, limiting the pace at which the estate can convert holdings into cash. Previous auctions saw firms such as Galaxy Digital and Pantera Capital acquire large tranches of discounted SOL, reinforcing institutional interest in Solana’s network.
Remarkably, the continued redemptions have not derailed Solana’s market performance. According to CoinGecko data, SOL gained more than 6% in the past 24 hours, trading around $237. Over the past week, it has risen more than 14%, underscoring the blockchain’s resilience. This growth contrasts sharply with concerns that liquidation pressure might harm price stability. Instead, Solana has shown consistent demand from both retail investors and large institutions.
Creditor Repayments Progress As Solana Adoption Expands
FTX’s estate is also preparing its next round of creditor repayments, scheduled for September 30. To date, more than $6.2 billion has already been returned through earlier distributions. Industry observers view the ongoing repayments as a positive step for restoring trust in digital assets and reinforcing the maturity of bankruptcy resolution mechanisms in the crypto sector.
Beyond the estate’s financial process, Solana continues to strengthen its fundamentals. Recent advancements in network speed, lower transaction costs, and developer adoption have contributed to renewed optimism. With leading venture capital firms and blockchain projects still backing Solana’s growth, the network remains a cornerstone of the next wave of scalable decentralized applications.
As FTX and Alameda continue their redemptions, Solana’s rising price and growing ecosystem send a clear message: institutional activity and technological progress are outweighing liquidation pressures, positioning SOL as one of the strongest assets in the current market cycle.
